Raymond James hires Schwab's Elyn Davis for RIA client experience

Raymond James has hired Elyn Davis, a 29-year Schwab veteran, as senior vice president of client experience, RIABiz reports. Davis, who wrote that the majority of her career was spent in Schwab's Advisor Services unit, updated her LinkedIn with the new role on Aug. 12; Raymond James has not yet issued a press release. The hire continues Raymond James's pattern of pulling Schwab talent into its RIA custody ranks, following its 2019 poaching of Greg Bruce to lead that business.

The move comes as RIABiz describes a 'hybrid-RIA battle' heating up among major IBDs. Davis's experience and Rolodex, which RIABiz reports is heavy on small RIAs and family offices, could help Raymond James differentiate on client experience in a custody market where culture and trust carry outsized weight.